Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • ClaireFG
    • By ClaireFG 13th Jul 17, 10:42 AM
    • 2Posts
    • 0Thanks
    ClaireFG
    Qualified acceptance
    • #1
    • 13th Jul 17, 10:42 AM
    Qualified acceptance 13th Jul 17 at 10:42 AM
    Hi,

    I'm looking for advice with regards to my recent house sale. The purchaser is a first time buyer and we have been lead to believe that a mortgage is in place, this being one of the main reasons to accept the offer, as we had a few offers. An offer was accepted and our lawyer sent out a qualified acceptance to us and the purchaser's lawyer on the 19th of June. On the qualified acceptance it states the entry date of the 14th of July.
    It also states 'This qualified acceptance, unless previously withdrawn, is open for written acceptance to be in our hands by 3pm, Monday 26th of June, 2017 and if such acceptance has not been received by us by that time shall be held to be withdrawn. We did not receive any response so my partner and I have been getting organised to be out for this date, as we presumed if we didn't hear anything then there is no issues. I understand this might have been nieve on our part but as this in the first time selling a property we don't know the process.
    Coincidentally, the purchaser came to the house on Monday the 26th at night time and where unaware of the entry date. When we told them, they where surprised but seemed excited about it. A few days later our lawyer contacts us to say the entry date is the 4th of August. This isn't acceptable for us as we will be at least £1600 out of pocket, due to another months bills. We have suggested a date of the 28th of July to give the purchaser more time. We still don't have a date to move out and I don't think this qualified acceptance has been agreed.

    Can anyone give any advice? I don't know how well I've explained the situation so if there is any questions, fire away.

    Thanks
Page 1
    • DumbMuscle
    • By DumbMuscle 13th Jul 17, 11:23 AM
    • 196 Posts
    • 290 Thanks
    DumbMuscle
    • #2
    • 13th Jul 17, 11:23 AM
    • #2
    • 13th Jul 17, 11:23 AM
    A quick check: Is this Scotland? I'm seeing a lot of terms I don't recognise, which probably means north of the border.
    • G_M
    • By G_M 13th Jul 17, 12:17 PM
    • 41,883 Posts
    • 48,472 Thanks
    G_M
    • #3
    • 13th Jul 17, 12:17 PM
    • #3
    • 13th Jul 17, 12:17 PM
    As above.

    Plus why out of pocket? You'd be paying bills at the new property if not where you are now........
    • davidmcn
    • By davidmcn 13th Jul 17, 12:28 PM
    • 6,071 Posts
    • 5,824 Thanks
    davidmcn
    • #4
    • 13th Jul 17, 12:28 PM
    • #4
    • 13th Jul 17, 12:28 PM
    Yes, it's Scotland. If you don't understand the process, speak to your solicitor. At present nothing is confirmed and you're still negotiating the date of entry. It's possible your buyer can't bring it forward.
    • Thrugelmir
    • By Thrugelmir 13th Jul 17, 1:03 PM
    • 55,827 Posts
    • 49,193 Thanks
    Thrugelmir
    • #5
    • 13th Jul 17, 1:03 PM
    • #5
    • 13th Jul 17, 1:03 PM
    The purchaser is a first time buyer and we have been lead to believe that a mortgage is in place, this being one of the main reasons to accept the offer, as we had a few offers.
    Originally posted by ClaireFG
    Somewhat unlikely that a mortgage was actually in place when the offers were made.
    "Wide diversification is only required when investors do not understand what they are doing." - Warren Buffett
    • ClaireFG
    • By ClaireFG 13th Jul 17, 3:33 PM
    • 2 Posts
    • 0 Thanks
    ClaireFG
    • #6
    • 13th Jul 17, 3:33 PM
    • #6
    • 13th Jul 17, 3:33 PM
    Sorry, yeah, I live in Scotland. We will be out of pocket as I'm moving back in with my mum.

    We have tried to discuss the process with our lawyer but seem to be going around in circles.

    My lawyer did say they had a mortgage in place and the only thing holding things up where the purchasers deciding an entry date. My lawyer also thinks they are going on holiday.

    What is confusing me is they had until the 26th of June to reply to the qualified acceptance letter and didn't. Does this mean they can dictate a date of entry? Should this not have been done on or before the 26th of June?

    Thank you for all the replies
    • davidmcn
    • By davidmcn 13th Jul 17, 4:14 PM
    • 6,071 Posts
    • 5,824 Thanks
    davidmcn
    • #7
    • 13th Jul 17, 4:14 PM
    • #7
    • 13th Jul 17, 4:14 PM
    What is confusing me is they had until the 26th of June to reply to the qualified acceptance letter and didn't. Does this mean they can dictate a date of entry? Should this not have been done on or before the 26th of June?

    Thank you for all the replies
    Originally posted by ClaireFG
    No, ignore the deadlines on the missives. Like I said, you are negotiating the date of entry. Either party can walk away, neither can dictate anything. Being away on holiday is a reasonably good excuse for not moving house!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,765Posts Today

6,582Users online

Martin's Twitter